7NEWS Australia published this video item, entitled “Inflation data improves for the United States | 7NEWS” – below is their description.
Inflation in the United States has fallen to its lowest level in 2 years at just four percent over the past 12 months.
It is good news for United States policymakers after their repeated efforts to quash inflation. It’s now back down at 4 percent, having reached as high as 9 percent just a year ago.
It’s also good news for many US businesses and consumers with the Federal Reserve looking even more likely to press pause on another US rate hike at its meeting this week.
Part of Australia’s high inflation is due to domestic factors, but global factors also have a big impact. Signs that inflation is cooling in the world’s largest economy is promising for Australia, as is evidence that the multiple rate hikes done by the Federal Reserve are working. It suggests that the Reserve Bank is also getting closer to the end of its hiking cycle.
7NEWS at 6pm. More local news: 7news.com.au/news/sydney
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7NEWS Australia YouTube Channel
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